Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CB	ACE LIMITED - OLD TICKER	10,146,160	$1.382B	15.0%	$97.89	+17.4%	COMMON	H1467J104
TSM	TAIWAN SEMICONDUCTOR MFG CO.	17,612,359	$578M	6.3%	$21.40	—	COMMON	874039100
ACN	ACCENTURE PLC-CL A	4,571,949	$548M	5.9%	$100.51	+3.5%	COMMON	G1151C101
HDB	HDFC BANK LTD-ADR	6,910,791	$520M	5.6%	$63.27	—	COMMON	40415F101
—	CANADIAN PACIFIC RAILWAY	3,509,846	$516M	5.6%	$146.66	—	COMMON	13645T100
—	CTRIP.COM INT'L ADR	10,242,560	$503M	5.4%	$46.12	—	COMMON	22943F100
—	CORE LABORATORIES N.V.	4,130,102	$477M	5.2%	$121.74	—	COMMON	N22717107
ABEV	COMPANHIA DE BEBIDAS DAS AMERICA	72,867,910	$420M	4.5%	$5.88	—	COMMON	02319V103
NBIS	YANDEX NV-A	14,799,163	$325M	3.5%	$20.85	—	COMMON	N97284108
ICLR	ICON PLC	3,712,253	$296M	3.2%	$69.51	+17.8%	COMMON	G4705A100
—	LAZARD LTD-CL A	6,161,175	$283M	3.1%	$43.68	—	COMMON	G54050102
ESLOY	ESSILOR INTERNATIONAL-UNSPON ADR	3,046,668	$185M	2.0%	$64.14	—	COMMON	297284200
CSLLY	CSL LTD-SPONSORED ADR	3,752,309	$180M	2.0%	$41.59	—	COMMON	12637N204
EXPGY	EXPERIAN PLC SPONSORED ADR	7,843,780	$160M	1.7%	$20.05	—	COMMON	30215C101
—	RECKITT BENCKISER GR-ADR	8,275,066	$154M	1.7%	$19.13	—	COMMON	756255204
NSRGY	NESTLE SA - SPONS ADR FOR REG	1,978,215	$152M	1.6%	$78.91	—	COMMON	641069406
TCEHY	TENCENT HOLDINGS LTD-UNS ADR	4,827,671	$139M	1.5%	$27.90	—	COMMON	88032Q109
—	COMPASS GROUP PLC-ADR	7,188,739	$138M	1.5%	$19.37	—	COMMON	20449X302
DSDVY	DSV A/S-UNSPONSORED ADR	4,341,444	$113M	1.2%	$25.07	—	COMMON	26251A108
LVMUY	LVMH MOET HENNESSY-UNSP ADR	2,514,517	$111M	1.2%	$33.97	—	COMMON	502441306
—	COLOPLAST AS- UNSPON ADR	14,040,323	$109M	1.2%	$7.78	—	COMMON	19624Y101
SGSOY	SGS SA - ADR	5,035,111	$107M	1.2%	$22.32	—	COMMON	818800104
NVZMY	NOVOZYMES A/S - ADR	2,475,945	$98.18M	1.1%	$44.10	—	COMMON	670108109
WMMVY	WALMART DE MEXICO-SPON ADR V	4,256,094	$98.02M	1.1%	$22.39	—	COMMON	93114W107
—	CHR HANSEN HOLDING - SPON ADR	2,816,937	$90.96M	1.0%	$29.98	—	COMMON	12545M207
HESAY	HERMES INTL-UNSPONSORED ADR	1,854,916	$88.16M	1.0%	$40.82	—	COMMON	42751Q105
AAGIY	AIA GROUP LTD-SP ADR	3,361,345	$85.3M	0.9%	$25.38	—	COMMON	001317205
ADDYY	ADIDAS AG ADR	877,412	$83.52M	0.9%	$87.41	—	COMMON	00687A107
—	LUXOTTICA GROUP SPA-SPON ADR	1,289,065	$70.96M	0.8%	$53.74	—	COMMON	55068R202
MELI	MERCADOLIBRE INC	331,049	$70.01M	0.8%	$116.37	+67.9%	COMMON	58733R102
AMZN	AMAZON.COM INC	64,073	$56.8M	0.6%	$24.82	+67.9%	COMMON	023135106
SSMXY	SYSMEX CORP UNSPON ADR	1,810,566	$55.14M	0.6%	$36.74	—	COMMON	87184P109
IDEXY	INDITEX-UNSPON ADR	3,106,958	$54.6M	0.6%	$18.43	—	COMMON	455793109
—	COOPER COMPANIES (THE)	261,445	$52.26M	0.6%	$151.34	—	COMMON	216648402
CNI	CANADIAN NATL RAILWAY CO	678,881	$50.19M	0.5%	$49.65	+21.3%	COMMON	136375102
APH	AMPHENOL CORP	684,045	$48.68M	0.5%	$12.62	+26.0%	COMMON	032095101
V	VISA INC - CLASS A SHRS	530,187	$47.12M	0.5%	$72.12	+12.2%	COMMON	92826C839
BSX	BOSTON SCIENTIFIC CORP	1,866,739	$46.43M	0.5%	$23.62	+3.0%	COMMON	101137107
ECL	ECOLAB INC	368,811	$46.23M	0.5%	$106.78	+4.0%	COMMON	278865100
—	QUINTILES TRANSNATIONAL HOLD	558,238	$44.95M	0.5%	$73.89	—	COMMON	74876Y101
CCI	CROWN CASTLE INTL CORP	464,156	$43.84M	0.5%	$59.40	+3.8%	COMMON	22822V101
SLB	SCHLUMBERGER LTD	547,223	$42.74M	0.5%	$58.44	+8.4%	COMMON	806857108
META	FACEBOOK INC	288,312	$40.95M	0.4%	$102.95	+28.9%	COMMON	30303M102
BF/B	BROWN-FORMAN CORP-CLASS B	886,729	$40.95M	0.4%	$32.36	-2.3%	COMMON	115637209
—	CERNER CORP	695,649	$40.94M	0.4%	$58.65	—	COMMON	156782104
VRSK	VERISK ANALYTIC	499,972	$40.57M	0.4%	$74.17	+5.8%	COMMON	92345Y106
COST	COSTCO WHOLESALE CORP	227,814	$38.2M	0.4%	$108.14	+32.1%	COMMON	22160K105
TYL	TYLER TECHNOLOGIES INC	200,149	$30.93M	0.3%	$152.77	-0.4%	COMMON	902252105
TSCO	TRACTOR SUPPLY COMPANY	437,624	$30.18M	0.3%	$14.11	-10.2%	COMMON	892356106
FRCB	FIRST REPUBLIC BANK/CA	310,311	$29.11M	0.3%	$90.31	0.0%	COMMON	33616C100
SCHW	SCHWAB (CHARLES) CORP	711,310	$29.03M	0.3%	$36.81	0.0%	COMMON	808513105
EW	EDWARDS LIFESCIENCES CORP	252,814	$23.78M	0.3%	$32.40	-3.4%	COMMON	28176E108
—	PRAXAIR INC	198,890	$23.59M	0.3%	$121.27	—	COMMON	74005P104
UA	UNDER ARMOUR INC-CLASS C	1,145,016	$20.95M	0.2%	$20.83	0.0%	COMMON	904311206
TRIP	TRIPADVISOR INC	217,229	$9.376M	0.1%	$67.16	-37.2%	COMMON	896945201
ADUS	ADDUS HOMECARE	286,047	$9.154M	0.1%	$22.52	+50.1%	COMMON	006739106
BABA	ALIBABA GROUP HOLDING-SP ADR	80,179	$8.646M	0.1%	$89.17	—	COMMON	01609W102
CRMT	AMERICAS CAR MART INC	204,642	$7.459M	0.1%	$27.81	+38.1%	COMMON	03062T105
UFPT	UFP TECHNOLOGIES	273,961	$7.096M	0.1%	$22.53	+9.8%	COMMON	902673102
—	LUXOFT HOLDINGS	109,066	$6.822M	0.1%	$65.01	—	COMMON	G57279104
—	CHINA BIOLOGIC PRODUCTS, INC.	65,715	$6.58M	0.1%	$118.76	—	COMMON	16938C106
GHM	GRAHAM CORP	276,596	$6.362M	0.1%	$15.64	+30.4%	COMMON	384556106
—	ATLAS FINANCIAL HOLDINGS	445,378	$6.079M	0.1%	$17.21	—	COMMON	G06207115
TRNS	TRANSCAT INC	476,787	$6.055M	0.1%	$9.76	+19.1%	COMMON	893529107
CASS	CASS INFORMATION SYSTEMS	83,344	$5.509M	0.1%	$32.38	+24.7%	COMMON	14808P109
ASR	GRUPO AEROPORTUARIO SUR-ADR	29,993	$5.196M	0.1%	$173.24	—	COMMON	40051E202
TLK	TELEKOMUNIK INDONESIA-SP ADR	164,187	$5.118M	0.1%	$29.16	—	COMMON	715684106
EMBJ	EMBRAER SA-ADR	230,993	$5.1M	0.1%	$19.25	—	COMMON	29082A107
UTMD	UTAH MEDICAL PRODUCTS	81,217	$5.06M	0.1%	$60.26	+4.5%	COMMON	917488108
WINA	WINMARK CORP	43,955	$4.967M	0.1%	$97.09	+17.9%	COMMON	974250102
THR	THERMON GROUP HOLDINGS	237,534	$4.95M	0.1%	$17.85	+12.2%	COMMON	88362T103
—	SP PLUS CORP	133,779	$4.515M	0.0%	$25.23	—	COMMON	78469C103
—	CHASE CORP	46,483	$4.434M	0.0%	$53.72	—	COMMON	16150R104
TTNDY	TECHTRONIC INDUSTRIES-SP ADR	209,875	$4.236M	0.0%	$19.56	—	COMMON	87873R101
NGS	NATURAL GAS SERVICES GROUP	159,757	$4.162M	0.0%	$22.85	+21.4%	COMMON	63886Q109
—	AMERICAN SOFTWARE CLASS A	350,339	$3.601M	0.0%	$9.39	—	COMMON	029683109
GLOB	GLOBANT SA	74,614	$2.716M	0.0%	$35.96	-3.0%	COMMON	L44385109
JD	JD COM INC CL A ADR	85,191	$2.65M	0.0%	$31.11	—	COMMON	47215P106
—	KMG CHEMICALS	56,840	$2.619M	0.0%	$27.04	—	COMMON	482564101
BAP	CREDICORP	15,597	$2.547M	0.0%	$128.96	0.0%	COMMON	G2519Y108
PTKFY	KALBE FARMA ADS	106,982	$2.506M	0.0%	$26.79	—	COMMON	69368A108
CRWS	CROWN CRAFTS	295,618	$2.431M	0.0%	$4.10	-0.4%	COMMON	228309100
CULP	CULP INC	74,926	$2.338M	0.0%	$21.72	+31.1%	COMMON	230215105
SGA	SAGA COMMUNICATIONS CLASS A	43,875	$2.24M	0.0%	$39.75	+26.2%	COMMON	786598300
PSMT	PRICESMART INC	22,266	$2.053M	0.0%	$78.61	-0.4%	COMMON	741511109
—	NATIONAL RESEARCH CORP CLASS B	50,863	$1.996M	0.0%	$33.73	—	COMMON	637372301
UNF	UNIFIRST CORP	13,501	$1.91M	0.0%	$121.86	+3.6%	COMMON	904708104
ENS	ENERSYS	23,487	$1.854M	0.0%	$64.22	+11.5%	COMMON	29275Y102
FMX	FOMENTO ECONOMICO MEX SP ADR	19,053	$1.687M	0.0%	$94.37	—	COMMON	344419106
—	NIC INC	83,180	$1.68M	0.0%	$22.60	—	COMMON	62914B100
UVRBY	UNIVERSAL ROBINA CORP-ADR	51,371	$1.654M	0.0%	$38.66	—	COMMON	913803201
—	NATUS MEDICAL INCORPORATED	40,615	$1.594M	0.0%	$37.77	—	COMMON	639050103
MMS	MAXIMUS INC	24,411	$1.518M	0.0%	$56.08	+4.8%	COMMON	577933104
NRC	NATIONAL RESEARCH CORP CLASS A	72,507	$1.428M	0.0%	$16.05	+15.3%	COMMON	637372202
—	INC RESEARCH HOLDINGS	30,505	$1.399M	0.0%	$46.43	—	COMMON	45329R109
—	CABOT MICROELECTRONICS	18,195	$1.394M	0.0%	$57.15	—	COMMON	12709P103
EUSHY	EUROCASH SA-UNSP ADR	153,985	$1.19M	0.0%	$11.61	—	COMMON	29872M105
—	NMC HEALTH PLC - UNSP ADR	49,302	$1.113M	0.0%	$22.58	—	COMMON	00BWWC450
—	MONOTYPE IMAGING HOLDINGS	55,259	$1.111M	0.0%	$21.09	—	COMMON	61022P100
—	SUN HYDRAULICS	30,245	$1.092M	0.0%	$35.57	—	COMMON	866942105
BRO	BROWN & BROWN INC	25,861	$1.079M	0.0%	$17.95	+12.0%	COMMON	115236101
—	HFF, INC. CLASS A	34,228	$947K	0.0%	$28.67	—	COMMON	40418F108
VRTS	VIRTUS INVESTMENT PARTNERS	8,369	$886K	0.0%	$74.45	+16.1%	COMMON	92828Q109
DORM	DORMAN PRODUCTS, INC.	10,482	$861K	0.0%	$65.19	+13.9%	COMMON	258278100
GRC	GORMAN-RUPP COMPANY	26,892	$844K	0.0%	$27.81	+12.0%	COMMON	383082104
JBSS	JOHN B. SANFILIPPO & SON, INC.	8,777	$642K	0.0%	$54.77	+20.4%	COMMON	800422107
—	FLIR SYSTEMS, INC.	17,485	$634K	0.0%	$33.68	—	COMMON	302445101
—	COCA-COLA ICECEK AS-SP ADR	65,366	$633K	0.0%	$12.21	—	COMMON	1912ER308
WYNN	WYNN RESORTS LTD	3,000	$344K	0.0%	$65.22	+38.1%	COMMON	983134107
GGG	GRACO INC.	3,620	$341K	0.0%	$23.69	+13.7%	COMMON	384109104
—	US ECOLOGY	7,197	$337K	0.0%	$48.92	—	COMMON	91732J102
JJSF	J & J SNACK FOODS CORP.	2,410	$327K	0.0%	$106.14	+6.6%	COMMON	466032109
CNSWF	CONSTELLATION SOFTWARE INC	650	$319K	0.0%	$392.93	+12.7%	COMMON	21037X100
WDAY	WORKDAY INC - CLASS A	3,500	$291K	0.0%	$76.44	+8.6%	COMMON	98138H101